Intrepid Mines Limited: Tujuh Bukit Project, Indonesia

BRISBANE, AUSTRALIA, Jul 30 (MARKET WIRE) --
Intrepid Mines Limited (TSX: IAU)(ASX: IAU) (the "Company") is pleased to
report that semi regional soil sampling, completed over the area
surrounding the Tumpangpitu drilling area, has defined significant
additional gold-copper anomalies worthy of follow-up.

The results of these surveys, together with geological mapping and
interpretation of aeromagnetic data further support the interpretation of
a large mineralised district over an area of 5 x 5 kilometers. This
suggests that the scale of mineralisation is likely to be greater than
that defined to date at Zones A, B and C.

Follow-up work is planned immediately and includes further definition of
the surface anomalies and a detailed helicopter magnetic survey which is
expected to commence in August. These combined results will form the
basis for further follow-up work in preparation for additional drilling
in late 2009 and early 2010.

To view the plan showing KP Exploration area (blue), area of alteration
(black dash) and soil sampling areas, please visit the following link:
http://media3.marketwire.com/docs/iau730A.pdf.

To view the diagrams that show gold in soil anomaly results (left) and
copper in soil results (right), please visit the following link:
http://media3.marketwire.com/docs/iau730B.pdf.

The data as presented above highlights several key points -

- The areas of drilling at Zones A, B and C are highlighted as discrete
anomalies in gold and copper.

- Other smaller gold (+/- copper) anomalies exist between these zones.
One in particular is located between A and B and corresponds with the
site of previously reported hole GTD - 14, which intersected 24m @
1.71g/t Au equivalent (see Emperor Mines news release of August 2007)

- Significant gold-copper anomalies occur to the NE of the Zones A-B-C
cluster and these are logical drill targets once more detailed (50 x 50m)
soil sampling is completed, and the planned helicopter supported
magnetics survey is completed.

- Several gold anomalies occur in a roughly NW trending belt on the
eastern side of the survey coverage. This belt is well defined in the
magnetics image shown below. Initial field reconnaissance suggests that
at least some of these anomalies may be low sulphidation, higher grade
gold zones.

- The images below show gold and copper anomalism as point data over
"Reduced to Pole" magnetics data, and over satellite imagery. The middle
image shows leveled data with a 310 degrees search angle, consistent with
the 310 degree structural corridor defined by the magnetics data.

- The images below also show a portion of the historical sampling at
Salakan Prospect (located NW of the recent Tumpangpitu sampling) defining
significant areas of gold and copper anomalism. This area of sampling
covers only the SE most quadrant of the broader Salakan Prospect.

To view the images showing recently compiled soil geochemistry overlain
on aeromagnetics (400m line spacing and local ground magnetics), please
visit the following link: http://media3.marketwire.com/docs/iau730C.pdf.

The results of these surveys is most encouraging and supports the
interpretation of multiple mineralised areas beyond those currently known
at Zones A, B & C. These results form the basis for follow-up work to
allow for drilling in late 2009 and early 2010.

FORESTRY ACTIVITIES

The Indonesian Forestry Law restricts non forestry activities within
protection forests and prohibits mining using an open pit method in
protection forest areas. Accordingly, Intrepid's Alliance partner, PT
IMN, is working with relevant Indonesian authorities to allow for a
review of forest land status where it affects the Company's operations.

FORWARD-LOOKING STATEMENTS

This announcement contains certain forward-looking statements, relating
to, but not limited to Intrepid's expectations, intentions, plans and
beliefs. Forward-looking information can often be identified by
forward-looking words such as 'anticipate', 'believe', 'expect', 'goal',
'plan', 'intend', 'estimate', 'may' and 'will' or similar words
suggesting future outcomes, or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future outcomes,
or statements about future events or performance. Forward-looking
information may include reserve and resource estimates, estimates of
future production, unit costs, costs of capital projects, and timing of
commencement of operations and is based on current expectations that
involve a number of business risks and uncertainties. Factors that could
cause actual results to differ materially from any forward-looking
statement include, but are not limited to, failure to establish estimated
resources and reserves, the grade and recovery of ore which is mined
varying from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in
the development of projects and other factors. Forward-looking statements
are subject to a variety of known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ
materially from those expressed or implied.

Shareholders and potential investors are cautioned not to place undue
reliance on forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and various
future events will not occur. Intrepid undertakes no obligation to update
publicly or otherwise revise any forward-looking information whether as a
result of new information, future events or other such factors which
affect this information, except as required by law.

QUALIFIED PERSON

The information in this announcement that relates to exploration results
is based on information compiled by or under the supervision of Malcolm
Norris, who is a full-time employee of Intrepid Mines Limited. Mr Norris
has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves" and a Qualified
Person as defined in the Canadian National Instrument 43-101 (standards
of Disclosure for Mineral Projects). Mr Norris consents to the inclusion
in the report of the matters based on his information in the form and
context in which it appears.

Statements relating to gold resource estimates are expressions of
judgment, based on knowledge and experience and may require revision
based on actual production experience. Such estimates are necessarily
imprecise and depend to some extent on statistical inferences and other
assumptions, such as gold prices, cut-off grades and operating costs,
which may prove to be inaccurate.

SAMPLE ANALYSIS

Intrepid exercises a strict chain of sample custody in its drilling
program at Tujuh Bukit. Joint Venture personnel collect the soil samples
under the direction of technical specialists. Orientation surveys were
completed to establish appropriate sampling protocols.

Samples are securely packaged, batched, and then transported under
supervision to Intertek's laboratory facility in Jakarta. At the
laboratory, the samples are prepared by crushing and pulverizing and a 30
gram charge is assayed for gold by conventional fire assay and/or atomic
absorption methods. Multi-element ICP analysis is carried out using a
multi-acid digestion process. All samples that contain silver and/or
copper, lead, and zinc values that exceed the upper detection limits for
ICP are re-analysed by conventional atomic absorption methods to
determine the absolute values of these metals.

GOLD EQUIVALENTS

The gold equivalent ratio for silver has been set at 65:1 based on
US$650/oz gold and US$10/oz silver. Historical bottle roll tests have
shown recoveries of 83% Au and 84.5% Ag, supporting a 65:1 ratio.
Recently received CIL metallurgical testing results from Zone C achieved
recoveries of approximately 90% for both Au and Ag at a grind of 80%
passing 75 um. Comparable recoveries for both gold and silver in the
recent tests from 4 composite samples from Zone C oxide material also
support the 65:1 gold equivalence ratio.

Contacts:
Intrepid Mines Limited
Brad Gordon
Chief Executive Officer
+61 7 3007 8011 or Mob: +61 400 036 636
bgordon@intrepidmines.com.au

Intrepid Mines Limited
Greg Taylor
Investor Relations (Toronto area)
+905 337 7673 or Mob: +416 605-5120
gtaylor@intrepidmines.com
www.intrepidmines.com

Copyright 2009, Market Wire, All rights reserved.

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